Posted on 23 May 2018
Steel producer Hòa Phát Corporation plans to issue more than 606.8 million bonus shares, worth VNÄ6 trillion (US$266.7 million), to pay a 40 per cent dividend for its performance in 2017.
Each shareholder will receive four additional shares for every 10 shares owned. The share issuance is scheduled in the second or third quarter of 2018, after receiving approval from the State Securities Commission.
The share issuance will increase the firm’s charter capital to VNÄ21.2 trillion from VNÄ15.2 trillion.
In 2017, Hòa Phát Corporation posted VNÄ46 trillion in net revenue, a yearly increase of 38.7 per cent. Its post-tax profit in 2017 rose 21 per cent year on year to more than VNÄ8 trillion.
The company is listing more than 1.5 billion shares on the HCM Stock Exchange with code HPG.
Its share price rose 1.7 per cent to end Friday at VNÄ53,900 ($2.4) per share, down 19 per cent from the record-high of VNÄ66,700 per share in early March.
